Microsoft delivered picture-perfect earnings after the bell Thursday, calming the market’s brief fears about runaway spending on AI infrastructure without the cloud revenues to show for it. Revenue increased about 17% year over year, to $61.86 billion, beating the Street consensus estimate of $60.8 billion, according to data from LSEG. Earnings per share (EPS) increased … Read more
Amy Hood, chief financial officer at Microsoft, speaks during a presentation on affordable housing in Bellevue, Washington, on Jan. 17, 2019. Chona Kasinger | Bloomberg | Getty Images Microsoft is increasing spending at a rate not seen since at least 2016. It still might not be enough. In its earnings report on Thursday, Microsoft said … Read more
Alphabet went into its earnings report on Thursday facing concerns about the growth of its core Google ads business and the company’s ability to generate profits from its hefty investments in artificial intelligence. For the time being at least, the company put Wall Street’s fears to rest. Alphabet topped analysts’ estimates, reporting revenue growth of … Read more
Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and … Read more
Microsoft shares rose as much as 5% in extended trading on Thursday after the software maker issued fiscal third-quarter results that outdid Wall Street’s expectations. Here’s how the company did in comparison with the consensus from LSEG: Earnings per share: $2.94 vs. $2.82 expected Revenue: $61.86 vs. $60.80 billion expected Microsoft’s total revenue grew 17% … Read more
Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a Bruegel think tank conference in Brussels, Belgium, on Jan. 20, 2020. Yves Herman | Reuters Alphabet will report first-quarter earnings after the bell Thursday. Here is what analysts are expecting. Earnings per share: $1.51, according to LSEG. Revenue: $78.59 billion, according to LSEG. YouTube … Read more
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024. Michael M. Santiago | Getty Images Stock futures fell sharply Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. Futures tied to the Dow Jones Industrial Average fell … Read more
Bipul Sinha, co-founder and CEO of data security software company Rubrik. Sinha previously backed cloud management company Nutanix. Greylock Partners Rubrik, a data-management software company backed by Microsoft, priced its IPO at $32 a share, according to a person familiar with the matter. That’s above its expected range. The 10-year-old company had planned to sell … Read more
My top 10 things to watch Wednesday, April 24 The S & P 500 and Nasdaq are trying to extend their winning streaks to three sessions. Bond yields are higher again so perhaps some headwinds ahead. Tech stocks have been leading the bounce back after rough sledding since the beginning of March. The Club’s five … Read more
Tesla CEO Elon Musk is pictured during a visit at the company’s electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. Odd Andersen | AFP | Getty Images By just … Read more
